Guilford Pharmaceuticals Receives $6 Million For Rights to Polymer Drug Delivery Patents

Guilford Pharmaceuticals Receives $6 Million For Rights to
Polymer Drug Delivery Patents 


BALTIMORE, Sept. 17  /PRNewswire-FirstCall/ -- Guilford Pharmaceuticals Inc.
(NASDAQ:GLFD) today announced that it has entered into a transaction pursuant
to which Angiotech Pharmaceuticals, Inc., obtains access to patents Guilford
had previously licensed from the Massachusetts Institute of Technology (MIT)
and the Johns Hopkins University (JHU).  Guilford will receive net proceeds of
approximately $6 million from Angiotech.

The patents (U.S. Patent Nos. RE 37,410, 5,626,862 and 5,846,565 and other
corresponding foreign patents and patent applications) relate to the use of
biocompatible polymers for delivery of chemotherapeutic drugs.

In connection with the transfer of these rights, Guilford has entered into a
new license agreement with MIT and JHU that grants Guilford limited rights
under these patents to develop PACLIMER(R) Microspheres
(polilactofate/paclitaxel) for certain indications in oncology and women's
health.

Craig R. Smith, M.D., Chairman, President and Chief Executive Officer of
Guilford, stated, "We previously announced our intention to divest certain of
our biopolymer-based drug delivery technology. Today's agreement is an
important step toward achieving this goal.  We have obtained fair value for the
transfer of our rights to patents that no longer fit with our long-term
corporate objectives while at the same time retaining rights to our PACLIMER(R)
product candidate for several potential clinical indications."

PACLIMER(R) is an injectable biopolymer-based formulation of paclitaxel
developed by Guilford that is designed to provide localized delivery of the
drug directly to the site of a tumor, potentially offering significant
advantages over traditional systemic treatment. Paclitaxel is one of the
world's best selling chemotherapeutic agents and is used in the treatment of
many forms of cancer, including ovarian, breast and lung cancers.

About Guilford

Guilford Pharmaceuticals Inc. is a pharmaceutical company engaged in the
research, development and commercialization of proprietary drugs that target
the hospital and neurology markets.  Presently, Guilford markets two commercial
products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the
treatment of brain cancer, and AGGRASTAT(R) Injection (tirofiban
hydrochloride), a glycoprotein GP IIb/IIIa receptor antagonist, for the
treatment of acute coronary syndrome (ACS). Guilford's product pipeline
includes a novel sedative/anesthetic, AQUAVAN(R) Injection and drugs for
treating peripheral nerve injury.  For additional information please visit
http://www.guilfordpharm.com/ under Products / Marketed Products.

This press release contains forward-looking statements that involves risks and
uncertainties, including those described in the section entitled "Risk Factors"
contained in the Company's Quarterly Report on Form 10-Q filed on August 9,
2004, that could cause the Company's actual results and experience to differ
materially from anticipated results and expectations expressed in these
forward-looking statements.  Among other things, there can be no assurance that
the Company will be able to continue to develop PACLIMER(R) either on its own
or through corporate partners.

   Contact:  Guilford Pharmaceuticals Inc.
             Stacey Jurchison, Director, Corporate Communications
             410.631.5022
             

DATASOURCE: Guilford Pharmaceuticals Inc.



CONTACT:  Stacey Jurchison, Director, Corporate Communications of

Guilford Pharmaceuticals, [phone], 



Web site:  http://www.guilfordpharm.com/



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